WESCO International (NYSE:WCC) Sets New 52-Week High – Here’s What Happened

WESCO International, Inc. (NYSE:WCC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $302.78 and last traded at $297.9430, with a volume of 777283 shares. The stock had previously closed at $289.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WCC shares. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of WESCO International in a research note on Wednesday, January 21st. Royal Bank Of Canada raised WESCO International from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $262.00 to $302.00 in a research report on Wednesday, November 19th. Wall Street Zen lowered WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Barclays raised their price objective on WESCO International from $274.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, WESCO International has an average rating of “Moderate Buy” and an average price target of $266.00.

WESCO International Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.20 and a current ratio of 2.09. The business has a 50 day simple moving average of $268.57 and a 200-day simple moving average of $238.83. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.84 and a beta of 1.45.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were paid a dividend of $0.4538 per share. The ex-dividend date was Friday, December 12th. This represents a $1.82 annualized dividend and a yield of 0.6%. WESCO International’s dividend payout ratio (DPR) is 14.20%.

Insiders Place Their Bets

In related news, CAO Matthew S. Kulasa sold 790 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $253.18, for a total transaction of $200,012.20. Following the transaction, the chief accounting officer directly owned 3,320 shares in the company, valued at approximately $840,557.60. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diane Lazzaris sold 4,039 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $258.42, for a total transaction of $1,043,758.38. Following the completion of the sale, the executive vice president directly owned 45,401 shares of the company’s stock, valued at $11,732,526.42. The trade was a 8.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,514 shares of company stock valued at $2,459,622 in the last three months. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Planning Group LLC increased its position in shares of WESCO International by 92.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company’s stock valued at $26,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in WESCO International by 166.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company’s stock valued at $28,000 after purchasing an additional 83 shares during the period. Rothschild Investment LLC increased its position in shares of WESCO International by 788.2% during the 3rd quarter. Rothschild Investment LLC now owns 151 shares of the technology company’s stock valued at $32,000 after purchasing an additional 134 shares during the last quarter. Torren Management LLC purchased a new stake in shares of WESCO International during the 4th quarter valued at $32,000. Finally, Root Financial Partners LLC bought a new stake in shares of WESCO International during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 93.75% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value?added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.